Loan to help finance $10-million press
© Darrell Cole – Amherst Daily News
PolyCello president and CEO Stephen Emmerson talks to Cumberland North MLA Brian Skabar about his company’s new $10-million press while Amherst Deputy Mayor George Baker looks on.
AMHERST – An Amherst manufacturer is again growing its business to become more competitive globally, while protecting jobs in Nova Scotia.
The province is helping PolyCello grow through a $7.1-million repayable loan to finance a $10-million capital expansion that included the purchase of a new 10-colour press.
“PolyCello is a family-owned business that’s been in Amherst for more than 50 years, and now employs several hundred Nova Scotians,” Cumberland North MLA Brian Skabar said Friday while making the announcement. “We want to create the conditions that will make sure they’re here for at least another 50 years.
“It’s important to help Nova Scotia businesses stay competitive, and supporting local employers like PolyCello to become even more successful is exactly what the jobsHere plan is designed to do.”
PolyCello is an industry leader in flexible packaging. The company’s products range from microwaveable to eco-friendly and compostable packaging.
The new press, that was first announced last spring with a $500,000 loan from the federal government, allows the company to continue to grow, better meet customer demand for smaller print runs and expand into new export markets.
The interest-bearing loan is repayable over 10 years.
“This state of the art equipment will allow PolyCello to continue its leadership position in the flexographic industry – both in Canada and the United States,” company president and CEO Stephen Emmerson. “Reinvesting in the latest technology is critical for all manufacturers, and PolyCello is no exception. This equipment is essential to our long-term sustainability and we are very pleased with the province’s support as we continue to grow and create future employment here in Amherst.”
The company has more than 350 employees between its manufacturing facilities in Amherst and Belleville, Ont.
“PolyCello has been a pivotal and highly appreciated part of Amherst for many years, providing employment opportunities for our residents,” Deputy Mayor George Baker said. “Today’s announcement helps ensure PolyCello will continue to be part of our community for a long time to come.”